BitGo Engages with SEC on 'Project Crypto' Initiative

BitGo Inc., a leading institution in digital asset infrastructure, held a pivotal meeting with the U.S. Securities and Exchange Commission (SEC) on September 10, 2025. The discussions revolved around the SEC's 'Project Crypto' initiative, as reported by CryptoTimes. Key participants included BitGo's co-founder and CEO, Mike Belshe, and Vice President of Corporate Development, J. Baylor Myers. The dialogue touched on evolving digital asset custody rules, embedding greater transparency in the market, and incorporating insights from the Trump administration’s Digital Assets Working Group.

Key Focus Areas in the SEC-BitGo Meeting

The meeting focused on addressing the regulatory challenges faced by the digital asset industry, with solutions proposed to safeguard investor interests and foster sustainable market growth. BitGo’s representatives emphasized the urgent need for clear guidance and actionable frameworks for market participants.

Revising Custody Standards

At the forefront of the discussions were updates to custody rules needed to align with the distinct demands of digital assets. BitGo stressed the importance of deploying advanced security measures such as multi-signature wallets and rethinking private key management protocols to counter cybersecurity threats. The company proposed practical frameworks for mitigating these unique risks, ensuring that custody standards evolve alongside technological advancements.

Legislative Opportunities

BitGo explored how existing regulatory powers could support legislative innovation. A central point of discussion was the SEC's potential role in endorsing gradual enhancements tied to pending legislation like the GENIUS Act. By integrating these legislative opportunities, the SEC would be better positioned to oversee and guide market evolution within the bounds of an evolving digital financial landscape.

Adapting Market Structure

Another pressing topic was the regulatory roadmap for broker-dealers and investment advisors managing digital assets. BitGo shared its expertise on enabling these entities to streamline crypto asset transactions while adhering to secure, compliant practices. Their insights reflected broader industry concerns over navigating regulatory ambiguity in this swiftly changing landscape.

SEC’s Vision for 'Project Crypto'

Originally announced in July 2025 by SEC Chair Paul Atkins, 'Project Crypto' marks a strategic pivot in addressing the digital assets ecosystem. As a departure from the SEC’s historically enforcement-heavy stance, the initiative aims to craft explicit, practical guidelines for the custody, distribution, and trading of cryptocurrency.

The collaboration with BitGo underscores the SEC’s intention to proactively engage with industry leaders to drive regulatory modernization. Furthermore, it signifies the growing commitment among digital asset stakeholders to work constructively with regulators to bridge gaps and address key challenges in this burgeoning sector.

In doing so, 'Project Crypto' represents a strong shift toward fostering innovation while safeguarding market stability, offering much-needed clarity for businesses and investors operating in the digital asset space.